Market News - 30 Apr 2009

U.S. and European Market Roundup 

• The DJIA up 168.78 points to 8,185.73 points.
• U.S stocks climbed, pushing the S&P’s 500 Index toward its best month since 2000 as companies beating profit forecasts outnumbered those that trailed by 10-to-1 and investors speculated bank losses peaked.
• European stocks closed at an 11-week high on Wednesday, led by banking standout Santander and raw material companies boosted by higher crude oil and copper prices.

Macro and Corporate News 

• BNM left borrowing costs unchanged at 2.0% yesterday, but cautioned that the Malaysian economy is likely to record a marked contraction in the first quarter.
• A fresh round of talks between the Selangor government and the Energy, Green Technology and Water Ministry on the restructuring of the water sector in the Pakatan Rakyat-led state can be expected to take place next week.